Crypto exchange Changelly has outlined its bullish price predictions for Shiba Inu (SHIB). The crypto exchange also highlighted several fundamentals that paint a bullish picture for the meme coin.
Shiba Inu To Rise To $0.00002495 By July
Changelly predicted in a blog post that Shib Inu will experience a price increase of just over 40% from its current price level and rise to $0.00002495 by July 1. This forms part of their bullish expectations for the meme coin this year, with the crypto exchange predicting that Shiba Inu can rise to $0.0000389961 by year-end.
Interestingly, Changelly made these bullish predictions despite noting that Shiba Inu is currently experiencing a bearish market sentiment. Despite that, they believe that the meme coin can still enjoy a strong upward trend, noting that the meme coin has shown a “very strong potential” lately.
The crypto exchange further alluded to SHIB’s fundamentals as part of the reasons they are bullish on the meme coin. Changelly noted how Shiba Inu’s developers are “aiming to solve serious, real-life problems.” The blog post also highlighted how Shiba Inu is gearing towards becoming a “full-fledged” decentralized ecosystem with the community having 100% rights to manage the network without a centralized governing body.
Meanwhile, Changelly stated that the overall market sentiment for the SHIB coin is “pretty positive” despite its recent downward trend. The crypto exchange mentioned Shibarium as a “key factor” which is generating a lot of excitement for Shiba Inu investors. The layer-2 network has become an integral part of the SHIB ecosystem and provides great utility for the meme coin, which could help contribute to future price surges.
Changelly also claimed that Shiba Inu has the “distinct advantage of a large, dedicated, and passionate community.” The Shiba Inu community, famously known as the ‘SHIB Army’ have undoubtedly played a significant role in Shiba Inu’s rise to prominence and Changelly believes that they can also help to position Shibarium as one of the leading Ethereum layer-2 networks.
SHIB’s Road To A New All-Time High
Crypto analyst Javon Marks recently highlighted how Shiba Inu could reach a new all-time high (ATH). He stated that SHIB could soon experience a parabolic rise to $0.000081, considering that the meme coin is still up over 100% since breaking out from a resisting trend, which he highlighted on the chart.
A rise to $0.000081 represents a price gain of over 200%, which Marks claimed is possible and that the recent pullback may contribute to such breakout. He further mentioned that a break or hold above $0.000081 could send Shiba Inu to $0.0001553, a new ATH for the second-largest meme coin by market cap.